Compounding

• The global luxury sector is entering the second half of 2026 facing a "polycrisis" of geopolitical turbulence, economic volatility, and significant cultural shifts. • A new report by Bain & Company and Altagamma indicates that while these disruptions persist, the industry's underlying fundamentals are showing signs of gradual stabilization. • This shift is critical as luxury brands must now race to rebuild their relevance and amplify their brand meaning to attract evolving consumer bases.

• FDA announced new enforcement actions targeting compounding pharmacies producing GLP-1 drugs like semaglutide amid safety concerns. • The crackdown addresses risks from unapproved versions of weight-loss and diabetes medications flooding the market. • This policy shift aims to protect patients from potential contamination and dosing errors in the booming $100 billion GLP-1 sector.